Summary: Comcast Xfinity is dropping Bally Sports which has upset fans, parent company is trying to restore broadcasts
Full articleSummary: United Parcel Service, Inc. (NYSE:UPS) declared a quarterly dividend of $1.63 per share, representing a $6.52 annualized dividend and a yield of 4.47%. The company has a payout ratio of 67.1% and is expected to earn $9.60 per share next year. UPS stock traded down 1.1% on Wednesday.
Full articleSummary: Philip Morris (NYSE:PM) posted strong Q1 results with impressive growth in Heated Tobacco and Oral Nicotine divisions, leading to raised guidance for record earnings in FY2024.
Full articleSummary: Apple is expected to launch the 6th Gen iPad Air at the 'Let Loose' event on May 7, introducing features to close the gap with iPad Pro series, such as new color options, landscape selfie camera, better chip with possible upgrade to M2, more storage, RAM, bigger battery, faster charging, and launch date on May 7.
Full articleSummary: Emerson has launched the TESCOM HV-7000 Series two-stage pressure-reducing regulator to enhance fuel efficiency and reliability in hydrogen-powered vehicles. The regulator features innovative designs to maximize pressure delivery stability, reduce fueling costs, and prevent contamination-related failures, ultimately improving vehicle service life and reducing downtime.
Full articleSummary: Broadcom has announced updates to its VMware software portfolio and partner program to simplify business model and standardize ecosystem, focusing on subscription licensing, per-core pricing, and portfolio reduction.
Full articleSummary: Alphabet Inc. paid Apple Inc. $20 billion in 2022 for Google to be the default search engine in Safari browser as revealed in antitrust lawsuit court documents. The amount was confirmed by Apple's senior vice president of services.
Full articleSummary: MetLife Inc. reported first-quarter net income of $867 million, matching Wall Street expectations.
Full articleSummary: Boeing has shaken up its C-suite and pledged to prioritize safety over profit after two fatal crashes and a mid-flight door blowout. Concerns remain about the educational background of new leadership, the need for governance structures promoting safety, and the influence of Boeing's size on decision-making. FAA's oversight process is criticized for being too lenient and requiring reforms to address conflicts of interest and lack of due diligence.
Full articleSummary: Tesla Inc. has rescinded internship offers just weeks before start dates, citing cost-cutting measures due to layoffs and decreased electric vehicle sales. Many aspiring interns are left scrambling to find replacement opportunities.
Full articleSummary: Starbucks Corporation (SBUX) reported a significant decline in comparable sales in Q2 2024, leading to a lower-than-expected revenue figure and operating margins. The company's earnings missed estimates, citing challenges from cautious consumers, China woes, and economic outlook concerns. Starbucks slashed its guidance, causing a massive collapse in its stock price.
Full articleSummary: Eli Lilly & Co.'s market cap could rise significantly after impressive first-quarter results that beat earnings expectations. Analysts from Cantor Fitzgerald raised the price target to $885, while BofA reiterated a Buy rating with a price target of $1,000, and Truist maintained a Buy rating with a price target of $892.
Full articleSummary: MetLife reported Q1 2024 earnings per share in line with analyst estimates but revenue came in below expectations
Full articleSummary: Costco is currently offering incentives on new Polestar, Volvo, Cadillac, and Chevrolet vehicles, including electric models, for Costco members through its Costco Auto Program until July 31, 2024. Members can get up to $2,000 off on select vehicles like the Polestar 2.
Full articleSummary: Raymond James Financial Services Advisors Inc. reduced its stake in Booking Holdings Inc. by 16.5% during the 1st quarter. Booking also announced a quarterly dividend and insider buying and selling activity. Analyst ratings changes for BKNG were discussed.
Full articleSummary: Bristol-Myers Squibb (NYSE:BMY) experienced unusual options trading with an increase in put options acquired compared to average volume. Institutional investors have been modifying their holdings with new stakes acquired. Wall Street analysts have mixed ratings on BMY, with one analyst giving a sell rating and the average rating being Hold.
Full articleSummary: A lawsuit has been filed against Facebook parent Meta Platforms Inc. arguing that users should be able to take control of their feed using external tools, such as a browser extension that allows them to unfollow all content fed to them by the algorithm. The lawsuit revolves around the interpretation of a provision in the 1996 Communications Decency Act.
Full articleSummary: Starbucks faces a number of challenges, including a disappointing quarterly report, slashed fiscal 2024 forecast, and decline in same-store sales, leading to multiple downgrades and price target cuts from analysts.
Full articleSummary: A coalition of major news publishers including the Chicago Tribune, New York Daily News, and Orlando Sentinel, owned by Alden Global Capital, have filed a lawsuit against Microsoft and OpenAI for allegedly using copyrighted articles to train their generative AI models without permission or payment.
Full articleSummary: Cisco (CSCO) stock has been struggling due to a significant drop in 2022, following poor earnings in early May and lowered estimates by analysts. Despite having value and a dividend, caution is advised as there is potential for further downside. The company blamed lower revenue on COVID lockdowns in China and the Ukraine war.
Full articleSummary: Boeing is preparing for its first crewed launch from the Space Coast with the Starliner spacecraft.
Full articleSummary: UMass professor sues Meta, seeking court ruling that Section 230 shields him from legal action over a tool to quiet Facebook users' newsfeeds.
Full articleSummary: The United States has imposed new sanctions on hundreds of firms and people tied to Russia’s weapons development program, more than a dozen Chinese firms accused of helping Russia find workarounds to sanctions and individuals tied to the death of Russian dissident Alexey Navalny. The sanctions target Russia’s military-industrial base, chemical weapons programs, and entities in third countries aiding Russia acquire weapons components.
Full articleSummary: Apple is set to release second-quarter fiscal 2024 results and is expected to beat earnings estimates. The stock has positive earnings estimate revisions, a strong growth score, and a high average brokerage recommendation. However, concerns about declining iPhone sales, particularly in China, have weighed on the stock.
Full articleSummary: The Federal Reserve has decided to hold interest rates steady, leading to expectations of only one rate cut in 2024. Economists predict that higher rates could impact car sales negatively and consumers are expected to delay purchases until interest rates fall. While mortgage and auto loan rates are expected to decrease before a rate cut, rates on credit cards and other loans will not see a decline until the Fed acts. Savers are likely to benefit from higher rates, while borrowers facing high costs are at a disadvantage.
Full articleSummary: Anthropic launches an iOS mobile app for Claude 3 AI language models similar to OpenAI's ChatGPT, introduces new subscription tier for group collaboration, utilizes different models for regular and pro users. App available for free and Pro/Team subscribers.
Full articleSummary: Lawsuit filed against Meta Platforms Inc. argues that users can use external tools to take control of their feed, including shutting it off entirely.
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